Sberbank of Russia Reducing Costs of Cash Management in Bank Branches and ATMs

Cary, NC - 23 November 2011

Sberbank of Russia has purchased an institutional license for installation of the OptiCash/OptiNet software developed by Transoft International Inc. The software is designed to optimize cash management processes for the bank's branches and ATMs. Transoft is one of the major global vendors of cash flow management software and implementation of their products is known as one of the best worldwide practices for efficient cash liquidity management. Transoft relies on a Russian partner, I-Teco, for implementing its software on the Russian market.

The solution was initially implemented in the Moscow network of Sberbank branches and ATMs, where OptiCash/OptiNet proved to be highly effective resulting in the bank improved cash availability in cashpoints while reducing operational and funding costs.

Achieving success of the Moscow implementation, Sberbank purchased an institutional license to replicate OptiCash/OptiNet across all Sberbank cashpoints in the Russian Federation and centralized all cash flow management processes within the institution.

Acting head of department of financial market operations at Sberbank of Russia, Anna Orlenko commented on this:

"Many sectors of the economy already have implemented the automated resource management systems that efficiently reduce operational costs, improve process transparency and control, and help to avoid planning errors. We believe that similar solutions should be implemented in the banking sector as well."

President of Transoft International Inc. Bo Holmgreen commented:

"Our work over the last two years with Sberbank has been very rewarding and we appreciate the size of such a huge bank going through incredible market adjustments. We strongly believe that Sberbank will benefit tremendously from our software implementation over the coming years."

Director of Financial Technologies department at I-Teco, Alisa Melnikova commented:

"Sberbank of Russia is the first bank in Russia going for radical improvement of its cash processing procedures. The I-Teco team has significant experience in implementing similar projects, and we firmly believe that our partnership with Transoft will live up to the best expectations of the largest bank in the Russian Federation."

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